Orange has created a new Africa section in its Orange Digital Ventures programme for investment in start-ups and committed 50 million euros to the initiative which will leverage the operator’s assets in Africa to support start-ups providing solutions to the continent’s fundamental challenges.
Orange Digital Ventures Africa will invest in early-stage innovation projects in new connectivities, enterprise cloud and data, FinTech, the Internet of Things and new business models, whether they are geographically based in Africa or they address African issues from outside the continent.
“Since the beginning of Orange Digital Ventures, the new services and business models in Africa have been one of the priority investment themes of our corporate venture business. We are engaging a bit further alongside the African digital ecosystem, which like everywhere else and maybe even more than elsewhere carries with it a development challenge,” said Pierre Louette, Deputy Chief Executive Officer of Orange and Chairman of Orange Digital Ventures.
To be eligible for the funding, applicants must be an incorporated company operating in the digital industry in Orange’s sectors of investment; be building up a scalable and innovative business with international high-growth potential; contemplating going to market or already have some engaged business leads; have a tested prototype with great technology; or have what it takes to challenge standard business models.
Orange will contact the applicants within 30 days of submitting their applications.
The programme’s team will be set up in Dakar, Senegal next September.
Orange Digital Ventures Africa complements Orange Fabs in Côte d’Ivoire, Cameroon, Senegal- the existing Orange initiatives open to innovation in Africa.